General Mills misses quarterly sales estimates

General Mills misses quarterly sales estimates
FILE PHOTO: General Mills cereals are displayed on a kitchen counter in Golden, Colorado, U.S. December 17, 2009. REUTERS/Rick Wilking -
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Rick Wilking(Reuters)
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(Reuters) – General Mills Inc on Wednesday reported quarterly sales below Wall Street estimates, hurt by lower demand for its snacks in North America.

Net earnings attributable to the company rose to $570.2 million (449.1 million pounds), or 94 cents per share, in the fourth quarter ended May 26, from $354.4 million, or 59 cents per share, a year earlier.

Net sales rose 6.9% to $4.16 billion, below the average analyst estimate of $4.24 billion, according to Refinitiv IBES data.

The boost in quarterly sales came from its acquisition of pet foods company Blue Buffalo last year.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)

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